Janet announced her resignation last September 2009 from California’s State Compensation Insurance Fund, citing her reason for resigning being her mother’s grave illness.  Her resignation was effective October 23rd 2009.  

It is not known how her mother’s illness has resolved itself, but one underwriter from State Comp expressed that many employees of SCIF felt badly when Janet Frank resigned last Fall and felt worse when the announcement was made less than three months later that she had accepted the position as President of The Zenith. 

The same underwriter expressed that hear-say around State Comp was that Janet couldn’t deal with the restraints and the bureaucracy of working for a quasi-state agency like State Comp and was frustrated and oppressed from having to work in a governmental straight jacket.  She is trained and acclimated to being an executive in the insurance private sector, from whence she came before joining State Comp in 2007 during a difficult time for SCIF.  That was during the time of a scandal over a conflict of interest issue involving two members of the Board of Directors. The scandal involved management fees that SCIF had paid out to administrators of employee safety groups that did little work. A subsequent audit found that the fund had paid out $500 million over a period of 10 years, and that half of the money had gone to organizations run by the two board members.

Janet was the first chief executive not promoted from within State Comp. She was hired away from CNA Financial Corp., the nation's fifth largest insurer, where she was Vice President of North American operations.